MONITORING FINANCIAL STABILITY THROUGH MONETARY INDICATORS

Ensuring financial stability has always been a natural concern and lately has become a priority for central banks, which are at the forefront of national financial systems. Central banks contribute to financial stability because they are responsible for ensuring price stability and on the other hand, a stable financial environment facilitates the realization of price stability. The monitoring of the financial stability of the state cannot be conceived without monitoring the evolution of monetary indicators, their fluctuations being related to the overall balance of financial flows in the economy, largely reflecting the situation on financial markets, foreignexchange markets, state budget and external balance of payments. The growth rate of money supply affects most of the macroeconomic indicators, such as output, employment, prices and interest rates. The aim of this article is to present and evaluate the evolution of the monetary indicators in the Republic of Moldova in order to analyse the evolution of the financial stability of the state.